Dalian coking coal futures increased sharply on Wednesday following the disclosure of fatal accidents at coal mines in Shanxi and Liaoning provinces. These incidents have sparked concerns over the potential impact on coal supply in the region.
Wang Xiangxi, the head of China’s Ministry of Emergency Management, which is responsible for ensuring worker safety, has called for a special investigation into under-reported mining accidents, as stated in an official announcement.
During morning trade, Dalian coke and coking coal futures recorded notable increases of 1.71pc and 3.05pc respectively. The morning trading session concluded with settlements at 2,255 yuan (USD 314) per ton for coke futures and 1,487 yuan (USD 207) per ton for coking coal futures.
Iron ore futures for the September contract experienced a slight decline of 0.6pc, settling at 834 yuan (USD 116) per ton.
In the Shanghai Futures Exchange, rebar and HRC futures showed modest gains of 0.51pc and 0.39pc respectively, reaching 3,741 yuan (USD 521) per ton and 3,843 yuan (USD 535) per ton. However, wire rod futures witnessed a decrease of 0.54pc to 4,057 yuan (USD 565) per ton. On the other hand, stainless steel futures rose by 0.81pc to 15,000 yuan (USD 2,090) per ton.
1 USD / 7.17 yuan
